Fusion Finance Limited has successfully concluded its postal ballot process, with shareholders approving both special resolutions with overwhelming majority support. The company submitted the scrutinizer's report and voting results to stock exchanges on January 9, 2026, confirming the passage of key corporate governance measures.

Postal Ballot Overview

The postal ballot was conducted exclusively through remote e-voting, with the record date set for December 5, 2025, and voting period concluding on January 7, 2026. The process was overseen by CS Harish Kumar from Harish Popli And Associates, who was appointed as scrutinizer by the board on December 6, 2025.

Resolution Results

Both special resolutions received strong shareholder support, demonstrating confidence in the company's strategic direction.

Resolution 1: Articles of Association Amendment

The first resolution to amend the company's Articles of Association received near-unanimous approval:

Resolution 2: Managing Director Appointment

The appointment of Mr. Sanjay Gargali (DIN: 11046442) as Managing Director also secured strong approval:

Voting Participation Analysis

The postal ballot witnessed participation from 213 members out of 82,197 total shareholders. The voting pattern showed strong promoter group participation at 93.61% of their shareholding, while institutional investors participated at 61.43% of their holdings.

Regulatory Compliance

The company conducted the postal ballot in compliance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Section 108 of the Companies Act, 2013. The process followed MCA circulars allowing remote e-voting without physical postal ballot forms, with notices dispatched via email on December 8, 2025.

The scrutinizer's report confirmed that all procedural requirements were met, including proper advertisement in Financial Express and Jansatta newspapers on December 9, 2025. The e-voting system was unblocked on January 7, 2026, at 5:17 PM in the presence of independent witnesses.

With both resolutions now approved, Fusion Finance Limited can proceed with implementing the Articles of Association amendments and formalizing Mr. Sanjay Gargali's appointment as Managing Director, marking significant milestones in the company's corporate governance framework.

Fusion Finance Limited has successfully completed its ₹800 crore rights issue, marking a significant milestone with the receipt of the First and Final Call money and conversion of partly paid shares to fully paid equity. The company received approximately ₹395.30 crore, representing around 99% of the total amount called during the final payment cycle.

Rights Issue Completion Details

The rights issue, which was oversubscribed by 1.5 times, comprised 6.11 million partly paid-up equity shares priced at ₹131 per share. The balance amount for the First and Final Call was fixed at ₹65.50 per share. Following the successful receipt of payments, all partly paid-up shares have been converted to fully paid-up equity shares of face value ₹10 each.

Enhanced Financial Position

The successful completion strengthens Fusion Finance's capital adequacy ratio, which stood at 31.31% as of September 30, 2025. The company's financial performance shows robust growth across key metrics:

Management Commentary and Market Position

Mr. Sanjay Gargyali, MD & CEO of Fusion Finance, stated: "The successful completion of the Rights Issue payment cycle marks an important milestone for Fusion Finance. The conversion of partly paid shares into fully paid equity further strengthens our capital position and provides greater financial flexibility to support our long-term growth plans."

The company serves approximately 25.8 lakh clients across 22 states and 3 Union Territories through its extensive network of 1,545 branches. With an Asset Under Management (AUM) of ₹7,038 crore as of September 30, 2025, Fusion Finance maintains its position among India's leading NBFC-MFIs.

Trading and Future Outlook

The fully paid shares are now available for trading on both NSE and BSE with effect from January 6, 2026. The additional capital provides Fusion Finance with enhanced financial flexibility to pursue calibrated growth, maintain prudent risk management, and advance strategic priorities while focusing on responsible lending practices.

The strong shareholder response, with 99% payment collection, reflects market confidence in the company's business fundamentals and governance framework, positioning it well for sustained growth in the microfinance sector.